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The first signs of weakness in the US labor market became a compelling argument in favor of the EUR/USD correction transitioning into breaking the downtrend. This requires further cooling.
Analysis of EUR/USD pair on May 6th. The dollar continues to be under pressure from statistics
The wave analysis of the 4-hour chart for the EUR/USD pair remains unchanged. At the moment, we observe the construction of the presumed wave 3 within wave.
GBP/USD. May 6th. Bulls continue to attack, but their momentum is fading
On the hourly chart, the GBP/USD pair continued upward movement on Friday, reaching 1.2611. The bounce of quotes from this level favored the US dollar, but the decline.
Weekly forecast based on simplified wave analysis of GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, and US dollar index on May 6th
The upcoming week is expected to see a general sideways movement in the price of the British pound major. One should expect growth towards the calculated resistance zone.
Why stock markets grow but USD weakens in light of poor US NFPs. USD/JPY could sink again, gold could rise
The government data on the US labor market published on Friday interrupted the victorious pace of robust employment in the US economy since the end of last year. Strong NFPs.
Defensive strategies key as Fed holds rates steady
As the US Federal Reserve maintains a firm stance, investors are preparing for a year of minimal rate cuts. The federal funds rate, currently at 5.25–5.5%, reflects the strategic restraint.
Weekly forecast based on simplified wave analysis of EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on May 6th
The upcoming week is expected to see a general sideways movement in the euro's price. In the coming days, one should expect an increase towards the calculated resistance zone. Subsequently.
Technically analysis of EUR/USD for week on May 6-11
Last week, while moving up, EUR/USD tested 1.0793, the Fibonacci retracement level of 50%, plotted by the yellow dotted line. After that, the price went down, closing the weekly candle.
Trading plan for GBP/USD on May 6. Simple tips for beginners
Analyzing Friday's trades: GBP/USD on 1H chart The GBP/USD pair continued its upward movement on Friday. As seen in the chart above, the price consolidated below the ascending trend line.
Trading plan for EUR/USD on May 6. Simple tips for beginners
Analyzing Friday's trades: EUR/USD on 1H chart EUR/USD continued its upward movement on Friday. Last week, there were quite a few important events for the dollar, and the market used.
Technical Analysis of Intraday Price Movement of CAD/JPY Cross Currency Pairs , Monday May 06 2024.ei 2024.
After being stuck at level 111.55 on the 4-hour chart, the CAD/JPY cross currency pair is now being corrected strongly where the main objective is to test the level.
Technical Analysis of Intraday Price Movement of USD/IDR Exotic Currency Pairs , Monday May 06, 2024.
With the appearance of the Bearish 123 pattern on the 4 hour chart of the exotic currency pair USD/IDR even though the MA 20 condition is still above.
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This section is updated daily and contains market analysis prepared by professional analysts on behalf of InstaForex. Each of the specialists presents analytical reviews in accordance with his/her vision of the current situation on the foreign exchange and other markets. However, the outlooks below are neither recommendations nor instructions to any actions. They contain analysis of the current situation on financial markets. In some cases, analysts' opinions about current market conditions may differ.